This item was published during the term of a previous administration that ended in April 2007
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Gross Domestic Product Q2 2006
25/10/2006
Gross Domestic Product in Scotland rose by 2.2 per cent over the year to the end of 2006 Quarter 2 and grew by 0.6 per cent during the second quarter of 2006 according to provisional estimates released today.
The main findings of the latest figures are:
- GDP rose by 2.2 per cent over the year to the end of 2006 Q2 and grew by 0.6 per cent over the second quarter of 2006 (seasonally adjusted)
- Over the year to the end of 2006 Q2, annual output in the Scottish service sector grew by 2.9 per cent, compared with a 1.1 per cent decrease in the production sector and a 4.6 per cent rise in construction
- In the second quarter of 2006, the service sector grew by 0.9 per cent, the construction sector rose by 0.2 per cent and the production sector declined by 0.2 per cent
UK Figures:
- The UK figures show that GDP rose by 2.3 per cent over the year to the end of 2006 Q2 and by 0.7 per cent over the latest quarter
- Over the year to the end of 2006 Q2, the UK experienced a 3.3 per cent growth in services, a 1.4 per cent decline in production and the construction sector remained constant
Industry Analysis:
- Over the latest quarter, the service sector grew by 0.9 per cent. Within this sector the real estate & business services (+1.7 per cent) sector was the main driver of the quarterly increase, followed by financial services (+2.0 per cent), and retail (+2.3 per cent). Banks (-0.4 per cent) and hotels & catering (-0.1 per cent) both declined over the latest quarter. Public admin, education & health remained essentially constant (-0.0 per cent) but all other service industries grew over the quarter
- Output in the production sector declined by 0.2 per cent over the quarter. Within production, the mining & quarrying and manufacturing industries fell by 3.8 per cent and 0.2 per cent respectively. This was partially offset by growth in the electricity, gas & water supply sector of 1.2 per cent
- Within manufacturing the main industries showing a decline over the quarter was electrical & instrument engineering (-2.1 per cent) and chemicals & man-made fibres (-2.0 per cent). The main sectors showing growth over the quarter were transport equipment (+2.3 per cent), other manufacturing (+1.0 per cent) and paper, printing & publishing (+1.3 per cent)
Gross Domestic Product (GDP) is a measure of the value of goods and services produced by residents, before allowing for depreciation or capital consumption. Net receipts from interest, profits and dividends abroad are excluded. The estimates produced in this publication measure GDP at basic prices (also referred to as gross value added (GVA)).